SP 4 Serial Problem (Algo) Business Solutions LO P2 The December 31, 2021, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2021) follows. Number Account Title Debit Credit 101 Cash $ 51,900 106 Accounts receivable 4,868 126 Computer supplies 670 128 Prepaid insurance 1,575 131 Prepaid rent 810 163 Office equipment 8,500 164 Accumulated depreciationOffice equipment $ 425 167 Computer equipment 20,800 168 Accumulated depreciationComputer equipment 1,300 201 Accounts payable 1,600 210 Wages payable 440 236 Unearned computer services revenue 2,100 301 S. Rey, Capital 68,000 302 S. Rey, Withdrawals 7,200 403 Computer services revenue 38,969 612 Depreciation expenseOffice equipment 425 613 Depreciation expenseComputer equipment 1,300 623 Wages expense 3,300 637 Insurance expense 525 640 Rent expense 2,430 652 Computer supplies expense 3,575 655 Advertising expense 2,653 676 Mileage expense 808 677 Miscellaneous expenses 230 684 Repairs expenseComputer 1,265 901 Income summary 0 Totals $ 112,834 $ 112,834

Required: 1. Prepare an income statement for the three months ended December 31, 2021. 2. Prepare a statement of owner's equity for the three months ended December 31, 2021. Hint: The S. Rey, Capital account balance was $0 on October 1, and owner investments were $68,000 this period. 3. Prepare a classified balance sheet as of December 31, 2021. 4. Record the closing entries as of December 31, 2021. 5. Prepare a post-closing trial balance as of December 31, 2021.